Timmerman Announces Retirement, Kevin Marsh To Succeed Timmerman As Chairman And CEO, Marsh Elected President And COO Of SCANA And Elected To SCANA’s Board
SCANA Corporation (NYSE:SCG) announced today that William B. Timmerman, SCANA’s Chairman, President and CEO will retire from the Company effective November 30, 2011.
At a Board of Directors meeting held today, the Board elected Kevin B. Marsh, to be the Company’s chairman and chief executive officer effective November 30, 2011 upon Timmerman’s retirement. Marsh will become SCANA’s seventh CEO since it became a NYSE traded company in 1946.
Additionally, the Board elected Marsh president and chief operating officer of SCANA Corporation and as a member of SCANA’s Board of Directors effective January 7, 2011. Marsh, currently president of SCE&G, principal subsidiary of SCANA, assumes the title of president from Timmerman.
“I believe retiring at the end of this year provides for a smooth transition and is appropriate as the Company enters a period of new nuclear construction. The leadership team currently in place is clearly prepared and already doing an outstanding job and I look forward to their continued successes in my retirement later this year,” said Timmerman. Timmerman will be available as a consultant to the Company during his retirement.In announcing Marsh’s expanded role, Timmerman noted Marsh’s significant experience and leadership. “Kevin and I have worked closely on running the Company for nearly 30 years,” said Timmerman. “Kevin has served as our chief financial officer and president of two of SCANA’s largest subsidiaries over the last decade. His strong operating and financial background will provide SCANA with outstanding leadership as we execute the Company’s new nuclear generation strategy and meet the energy needs of the next decade.” “Bill Timmerman will leave a strong legacy of success at SCANA with an excellent team of experienced leaders to execute the Company’s long-term plan and the new nuclear project,” said Marsh. ”While we have our challenges and opportunities ahead of us I am excited by our potential and honored by the confidence expressed by our board”
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV